“Make the best use of your time and develop a creative (re-)opening strategy that needs to capture the attention of your customers during a period of a lot of noise.”
“There is no need to look for culprits or point out those industries or competitors who might not be affected in the same way.”
MIPIM 2020, scheduled to take place June 2-5 in Cannes, is transforming into a two-day, Paris-based gathering of real estate and technology leaders in September and a new online experience, MIPIM Connect, available year-round.
“The outlet category has always matured during decades of upheaval, and we have routinely stated that ‘outlets are good in good times and great in terrible times.’ 2020 may well test that theory.”
Europe’s retailing sector is reeling from the shock of lockdowns across the region to limit the spread of the Covid-19 pandemic, but the impact on the sector’s credit outlook will be uneven, says Scope Ratings.
2019 was a real game-changing year for the region’s retail sector with quickly increasing turn overs, new market openings as well as first larger refurbishments. Unfortunately, the current crisis is reshuffling the entire deck.
Standort + Markt recently published a first estimate regarding the anticipated daily loss of revenue of shopping places in Austria due to the corona shutdown. Its results provide solid guidelines for the European retail real estate market in general.
URW continues to focus on the strength of its asset portfolio, its capital allocation priorities and the preservation of its strong liquidity position, in addition to the health and safety of its employees and communities.
The list of retailers in Great Britain, who are temporarily shutting down their stores due to the corona crisis, continues to grow. For example, H&M and Zara recently announced that they will shut down their stores.
The coronavirus pandemic will have a negative impact on economies across the EBRD regions but recovery could be robust once the outbreak is contained, according to the Bank’s economists.
SAFE Shopping Centers have issued the guide “COVID 19 and Considerations for Shopping Centers and Retail Spaces” to support the industry (FREE DOWNLOAD). It is designed to give guidance on preparations and consideration for the Covid-19 outbreak, covering essential functions and hands-on tips for mall operations.
It is an exceptional situation. Since March 16, all Austrian stores that do not sell essential goods remain closed for the time being.
Entrepreneurs, driven by the sense of utmost responsibility, and fully aware of the catastrophic consequences of the crisis caused by SARS-CoV-2 epidemic outbreak and spreading, have decided to establish the Polish Trade and Services Employers’ Association.
The already difficult situation for brick-and-mortar retail has resulted in a real struggle for survival in recent days.
Atrium made a statement to update shareholders on recent government announcements in response to the COVID-19 virus within the Company’s operational jurisdictions.
As of March 19 2020, the Executive Board of the Company is thus composed of the members Dietmar Reindl and Stefan Schönauer, who will continue all agendas.
“As in all crisis, we should bear in mind that there is always a ‘before’ and an ‘after’. We should focus on the latter.”
"The longer the situation will continue, the more the complete economic demand will deteriorate and thus reduce the interest and the ability to lease retail real estate further.”
Due to the Covid-19 situation the H&M group will temporarily close all its stores in Germany (460*) from March 18, based on decisions by the German authorities. In addition, the group is also closing all its stores for two weeks in the US (590*), Canada (96*), Portugal and Belgium from March 17.
Eurocommercial is very appreciative of the impact of these unprecedented measures on its tenants and expects to grant temporary support to a number of them.